Skip to main content

MoneyWorks4Me

Crude oil futures settle higher on Tuesday

02 Jul 2025 Evaluate

Crude oil futures ended higher on Tuesday as traders seek more clarity of ongoing global trade negotiations ahead of July 9 tariff deadline set by the US President Donald Trump. Meanwhile, investors are eyeing the upcoming meeting of OPEC+ on July 6, where the group is expected to announce a hike in oil production for August by 411,000 barrels per day. 

Benchmark crude oil futures for August gained $0.34 or about 0.52% at $65.45 a barrel on the New York Mercantile Exchange. Brent crude for September rose $0.37 or about 0.6% at $67.11 a barrel on London's Intercontinental Exchange.